Purchase Options

If you're a homeowner, we'll show you how to tap your equity easily and affordably for any purpose.

Fixed Rate Mortgages

A fixed rate mortgage ensures that your monthly payment will remain the same throughout your loan term. You can choose a 10, 15, 20, 25, or 30 year loan term.

Hybrid Loans (Fixed rate term with adjustable feature)

You can choose a program that is considered "middle of the road": 3/1, 5/1 or 7/1 hybrid loans. These loans offer a fixed rate for the first 3, 5, or 7 years. The loan then enters into its adjustable feature. You can choose an index tied to the Libor or the US Treasury.

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Interest Only Fixed Rate Mortgages

• For home owners that want the minimum monthly payment at the beginning of the loan
• Monthly payment covers only interest (no the principal) for the specific term
• Generally 10 years intereset only and then 20 years fully amortized
• You may qualify for larger loans
• Increase monthly cash flow
• Loan is recast after a specified period so that payments (which will change) will cover both principal and interest

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Adjustable Rate Mortgages

• 1 year adjustable: This loan is tied to the libor index with a 2.25% payment cap or the 1 year Treasury Securities with a 2.75% payment cap. You choose which index fits your needs. Your interest rate and payment are fixed for the first 12 months. Your interest rate and payment will be recalculated based on the index and margin at that time.

Zero Down Home Loans

You don't need a big down payment to become a homeowner. In fact, you don't need any down payment. Finance 100% of your purchase price with our Zero Down Home Loan.

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Housing Assistance Program

Qualified USC faculty and staff members can get down payment assistance and housing subsidies when purchasing a home; come talk to us for details or visit http://www.usc.edu/admin/nhp for more information.